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The subway fare in your town has just been increased from a current level of 50 cent to $1.00 per ride. As a result the transit authority notes s a decline in ride ship of 30 percent.
A. compute the price elasticity of demand for subway rides
B. if the transit authority reduces the fare back to 50 cents, what impact would you expect on the ridership? Why?
Consider the following Ricardian model.
the implications of the barriers to entry/exit, the efficiency of this market, profit maximization, elasticity, an explanation of why advertising is more important in this market structure compared to the other types, and any other important chara..
The daily load factor of a given entity is defined as the total daily energy served to that entity divided by theproduct (peak demand)*(duration of the time interval). For a daily load factor, the duration of the time interval is 24.
an increase in the excise tax on alcohol?awill have no effect on alcohol consumptionbwill generate minimal tax revenues
1.question why does a business need to understand elasticity of demand?2. the schedule below is for beer pricequantity
Someone claim that immigration must always be good for economy because the raised supply of labor will result in a higher GDP. Estimate this statement.
Keeping the Law of Diminishing Returns in mind, comment on the quality of teaching and learning that occur when a resident successively works her 60th, 70th, 80th and 90th hours in a week.
What is firm's cost of capital at the various combinations of debt and equity? What is the firm's optimal capital structure? Construct a balance sheet showing that combination of debt and equity financing.
In a gambling game a woman is paid $3 if she draws a jack or a queen and $5 if she draws a king or an ace from an ordinary deck of 52 playing cards. If she draws any other card, she loses.
Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.
Suppose the wage rates of workers are based on the expected price level. If there is an unexpected increase in AD, it will cause the actual price level to increase. Then workers should raise their expected price level and negotiate a higher wage r..
Use the first order conditions for profit maximisation to show that a monopolist will never produce on the inelastic portion of his demand curve.
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